2023’s most notable deals in trucking

2023 brought two large truckload acquisitions, several less-than-truckload carriers picking through a bankrupt carrier’s assets and no resolution to a $3.2 billion merger attempt, among other transactions.

What happened

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Why it matters

Trucking M&A was tepid again in 2023 as freight demand slowed. Interest rates stepped higher, which proved a hindrance to deal financing, and tightened credit markets were met by still lofty valuation expectations from sellers.

Through the first week of December, transportation and logistics deal flow was off 2% year over year following 2022’s notable pullback, according to supply chain M&A advisory firm Left Lane Associates. However, companies generating significant cash flow did use M&A to offset weak organic growth.

There were some notable deals in trucking during the year, however. Here’s a recap in chronological order.

This news brief is based on reporting published by FreightWaves on 2023-12-29. The original report is linked below.